I live in NM. I have 5 payday loans. 4 of them via
Date: Fri, 04/15/2011 - 22:02
I live in NM. I have 5 payday loans. 4 of them via internet in which I set up ACH withdrawals. My account is $950 overdrawn. I can correct this. But if I close my bank account & default completely what will happen? My present interest rates are enormous. I am on the verge of being homeless. Heck I do not even have money to travel to work next week. I am desperate & I am in need of answers/solutions. I just want to default completely on some of them. Never again. I do not gamble or do drugs. Just very bad luck. Laid off a while & other problems.
Payday lending is considered as legal in New Mexico. I will sugg
Payday lending is considered as legal in New Mexico. I will suggest you check out whether or not your payday lenders have the license to operate in your state. If they are not, then you'll be liable for paying only the principal balance to them. If they are licensed, then you'll have to make full payments. If you're facing difficulty in paying the debts, then you can go for a payday loan consolidation and try to sort out the matter. Complete default on the payments will have a severe negative affect on your credit report and score.
